Accounting

The GAAP conceptual framework is the foundation of U.S. financial reporting. Learn about qualitative characteristics, recognition criteria, measurement bases, the GAAP hierarchy, FASB standard-setting, and accrual vs. cash basis accounting.

A complete guide to the income statement and comprehensive income under U.S. GAAP — income statement structure, OCI components, discontinued operations, intraperiod tax allocation, and earnings management.

Learn how companies classify investment securities under GAAP. Covers ASC 320 debt securities (trading, available-for-sale, held-to-maturity) and ASC 321 equity securities, including measurement, unrealized gains and losses, reclassification rules, and impairment.

Learn the major GAAP depreciation methods with formulas, real-world examples, and side-by-side comparison.

Learn the statement of cash flows indirect method and direct method with a complete worked example. Covers operating, investing, and financing activities classification, T-account approach, supplemental disclosures, and IFRS vs GAAP differences.

Learn how FIFO, LIFO, and weighted average inventory valuation methods affect COGS, ending inventory, and net income under GAAP, with worked examples and analyst adjustment techniques.

Learn how to account for treasury stock (cost method vs par value method), stock dividends, and retained earnings under U.S. GAAP. Includes worked examples and journal entries.